President Trump Expresses Desire to Visit Vietnam, Acknowledges Market Economy Request

Kuala Lumpur, October 26, 2025 – On the sidelines of the 47th ASEAN Summit in Malaysia, Vietnamese Prime Minister Pham Minh Chinh had a brief meeting with US President Donald Trump. The meeting noted positive signals in bilateral relations, particularly the desire to promote high-level visits and address key economic issues.

Prime Minister Chinh conveyed an invitation from General Secretary To Lam and other senior Vietnamese leaders for President Trump to visit Vietnam. According to Vietnam's Government Portal, President Trump gladly accepted the invitation, stating he "very much looks forward to" arranging a suitable time for the visit.

Promoting the Comprehensive Strategic Partnership

Based on the Comprehensive Strategic Partnership for peace, cooperation, and sustainable development, Prime Minister Chinh proposed that the US arrange a visit for General Secretary To Lam to the United States soon. President Trump welcomed this proposal and expressed hope that Prime Minister Chinh would also visit the US at a mutually convenient time.

The two leaders agreed to continue promoting the bilateral relationship in a deeper, more substantive, and effective manner, including the early signing of a reciprocal trade agreement based on fairness and equality to strongly boost US investment in Vietnam.

Notably, at the Prime Minister's suggestion, President Trump responded positively and acknowledged the request to recognize Vietnam as a market economy and consider removing Vietnam from the D1 and D3 strategic export control country groups. President Trump instructed senior US officials present at the summit to provide feedback on these matters to Vietnam soon.

Reciprocal Trade Agreement Framework and 20% Tariff Level

Also on October 26, Vietnam and the US announced a Joint Statement on the framework for a Reciprocal, Fair, and Balanced Trade Agreement. This statement resulted from numerous negotiation sessions since late April 2025 between Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative (USTR) Jamieson Greer, along with US Secretary of Commerce Howard Lutnick.

According to the Joint Statement, the United States will maintain the 20% reciprocal tariff rate on goods originating from Vietnam, as stipulated in Executive Order 14257 of April 2, 2025 (as amended). This rate had previously been reduced from 46% by an Executive Order announced on August 1, 2025. Additionally, the US will identify products within the categories listed in Annex III of Executive Order 14356 (September 5, 2025) to potentially receive a 0% reciprocal tariff rate.

On Vietnam's side, the Joint Statement indicates that Vietnam will grant preferential market access for nearly all US agricultural and industrial exports. Vietnam also agreed to address US concerns regarding non-tariff barriers, such as accepting US vehicle safety and emissions standards, streamlining procedures for US medical devices and pharmaceuticals, fulfilling intellectual property obligations, and addressing concerns related to conformity assessment procedures.

Commitment to Broader Cooperation

The Joint Statement also emphasizes commitments to cooperate in various other areas, including digital trade, services, investment, labor, environment, customs, and enhancing supply chain resilience, addressing tariff evasion, and coordinating on export controls.

Both sides acknowledged recent commercial deals between US and Vietnamese companies, including Vietnam Airlines' contract to purchase 50 Boeing aircraft (valued at over $8 billion) and 20 MOUs for Vietnamese companies to buy US agricultural products (valued at over $2.9 billion).

In the coming weeks, the US and Vietnam will continue discussions to finalize the text of the Reciprocal, Fair, and Balanced Trade Agreement, preparing for its signing and necessary domestic procedures for entry into force. Bilateral trade between Vietnam and the US reached approximately $126.4 billion by the end of September 2025, an increase of 27.3% compared to the same period in 2024.